Is California a community property state?
California Community Property Law Explained California is a community property state. In plain English, this means that generally, property acquired during the marriage by either spouse is presumed to be owned by each spouse equally.
What do you mean by community property?
Community Property. Property is virtually anything that can be sold or bought. Couples may think of community property in terms of real estate, bank accounts, retirement and pension plans, stocks and bonds and the like, but it also applies to cars, furniture and even clothing.
Is jewelry considered community property in California?
Jewelry of a personal nature (wedding ring, jewelry gifted during the marriage) is often not community property. California law is not inflexible on this issue. We already wrote if it was acquired during the marriage through a community property source, it is likely community property. So why would there be an exception for jewelry?
Are retirement plans community property in California?
Most plans are partially community and separate because new money goes into such plans after the date of separation. If they must go through a QDRO process, California community property law treats them similar to accounts with financial institutions or retirements, as we explained above.
California has been a community property state since it became a state in 1850. You would think we’d have gotten the hang of it long ago. But the community property system continues to confound some married folks,…
What is a Canadian community?
In 1979 the second report of the federal Task Force on CANADIAN UNITY stated that „a community is a group of persons joined together by a consciousness of the characteristics they have in common and by a consciousness of the interests they share.“ This is similar to the first 2 meanings mentioned above.